Word: pepsico
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Dates: during 1990-1990
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Ironically, India has found an ally in a U.S. company. After four years of negotiations, PepsiCo last week began to sell its soft drinks in India. Over the next ten years, PepsiCo and its Indian partners are expected to invest $1 billion in their joint venture. As a result, Christopher Sinclair, president of Pepsi-Cola International, has urged U.S. Trade Representative Carla Hills not to impose any economic sanctions against India. Says Sinclair: "We feel that punitive actions by the U.S. would only derail things." Hills has until July 16 to make her decision...
...first the deal sounds like a bad perestroika joke: How many bottles of Pepsi can a Soviet citizen buy with a merchant ship and a case of vodka? But the barter agreement that PepsiCo and the Soviet Union signed last week is worth a serious $3 billion. In the largest deal ever struck with an American company, the Soviets will trade ships and spirits for expanded Pepsi production. The complex barter system was necessary because the ruble is not readily convertible to Western currency. PepsiCo, which currently produces 40 million cases of soft drinks in the U.S.S.R. each year, will...